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Sunday, November 12, 2006

The Ins And Outs Of Passive Residual Income

Almost everyone who is interested in online business orworking at home has heard of residual income. Theyunderstand what it is and how to make it. There is anotherform of residual income - passive residual income thatpeople may not be so familiar with. It is like residualincome and many might actually already be making passiveresidual income and not even know it. However, it can helpto become familiar with the ins and outs of passive residualincome, if not to understand it, just to learn how to maketheir passive residual income opportunity better.

Residual income is income that is earned over and over forcompleting a task once. Passive residual income is residualincome that comes form investments. For example, realestate is a residual income. If a person buys an apartmentcomplex they then rent out the apartment units and earn apassive residual income on their initial real estateinvestment in the form of rent every month. With residualincome the investment is more about time, not money, sopassive residual income is a lot easier to start andrequires minimal time, which is why it is called passive.

Passive residual income offers many benefits. For a personwho has the money to invest, they can build a nice incomewith very little work up front and almost no more work afterthat. All it takes is a little monitoring. It is also veryflexible. Most sources of passive residual income can behandled from anywhere. A person does not even need anoffice. It also provides a person with a lot of freedom.Since they no longer have to spend hours a day working tomake an income, they can now spend their time they way theywant to. They are free to enjoy life and actually spend themoney they work for, instead of spending their time workingwith little or no free time to actually enjoy the fruits oftheir labor. It is also possible for a person to have morethan one passive residual income opportunity. Since they donot have to put in a lot of work, they can invest in a fewdifferent projects and earn money from all of them at thesame time. This is what is called multiple streams ofincome and is one of the top ways to earning good money.Overall, passive residual income just allows a person to dowhat they love, to be able to provide for their family andthemselves without having to work themselves crazy.

When it comes to earning money, many people are turning tothe benefits of residual income. It just makes sense. If aperson is lucky enough to have the ability to try a passiveresidual income opportunity then they will get even more benefits. It is something that takes the focus of life off of making money and puts it on enjoying life.